Real estate

Title

Real estate

Creator

Carman, P.D

Language

English

Source

The American Chamber of Commerce Journal Volume XVIII (Issue No.3) March 1938

Year

1938

Rights

In Copyright - Educational Use Permitted

Fulltext

40 T HE AMERICAN CHAMBER OF COMMERCE JOURNAL March. I'B« IHE RICE INDUSTRY By I)r. V. Buencaminu Manaf/er, National Rie< & Corn Corporation The position of the market re mained funda mentally sound with prices re gistering fresh advances.An easier undertone, however, devel oped towards the close of the month, owing to the presence of distressed parcels w h i c h changed LA URBANA BUILDING AND LOAN ASSOCIATION LOANS for the construction of buildings, and mortgages at moderate rates hands at lower than current rates. The recession, however, is expected to be only temporary, the trade generally anticipat ing favorable reaction shortly. The month opened firm following the re covery made in last month’s closing. Steady gains aggregating 25c per sack have been made until about the middle of the month when a new high was registered. A slight recession set in towards the end, the mar ket closing quiet with a steady undertone. The supply of the old crop is practically exhausted except that coming from tho National Rice and Corn Corporation. For that reason, a premium of about 80c for Elon-elon and 30c for Macan is being paid by a certain class of consumers with strong preference for the old crop. A fairly good quantity of 2nd class Macan, old crop, was sold by the National Rice and Coni Cor poration at prices ranging from P6.30 to P6.35 compared with P5.85—P5.95 for the new crop sold by the trade. The difference is partly attributed to the fact that the Naric rice weighs about 1*2 kilos more than that sold by private dealers. Ar rivals at Manila by rail amounted to 183.238 sacks compared with 208,850 sacks for last month. Opening. Irgh, low and last quotations are given below: PA LAY Persistent firmness continued to dominate the trade. In spite of the weaker under tone of the rice market, sellers held very firm with prices maintained above the parity of rice in Manila. Prices in Cabanatuan ranged from P2.70 to P2.75 for Macan, per sack of 44 kilos. In certain sections of Bulacan, sales have been made as high as P2.90 to P3.00. Rice purchased at these prices are being held in storage in anti cipation of better prices. FOREIGN MARKETS Despite lower estimates of exportable surplusses in Burma and Indochina, the market did not register any appreciable change. Quotations ranged from P4.00 to P4.20 per sack of 57 kilos, c.i.f. Manila. Siam, however, which reports a greater sur plus this year quoted as low as P3.90, c.i.f., for immediate shipments. INVESTMENTS in shares of stock giving 6% dividends annually. We also issue savings shares from one peso-up monthly PATERNO BLDG. SANTA CRUZ, MANILA P. O. BOX 138 TEL. 2-18-55 ELEKTROMEKANO Ha.lsingborg. Sweden for SAW MILLS GOLD MINES etc. . Totally enclosed surface cooled dustnroof MOTORS Squirrel cage motors with low starting current A. C. and D. C. Generators, Transformers All Motors and Generators fitted with Ball Bearings Sole Agents for P. I. ’ ELMAC INC. Electrical & Machinery Company 627 Rizal Ave. MANILA P. O. Box 625 REAL ESTATE Bv P. D. Carman Boulevard Heights inite effect in The February total, while slightly larger than that of January, is lower than any February total since 1933. The normal number of smaller transactions has re cently been main tained but large transfers have been noticeably lacking. Uncertainty of the political future prob ably has a very defing the consummation of the more important transactions. January Februar' 1938 1938 Sales City of Manila Sta. Cruz-............. .... P101.278 P243.042 Sampaloc ........... 155,355 88,473 Tondo ................... 83,095 75,178 Binondo ............... 111,000 San Nicolas ........ .... 62,200 41,684 Ermita ................. 18,318 42,600 Malate ................. .... 144,255 58,101 Paco ..................... 29,611 106,577 Sta. Ana ............. 24,332 19,131 Quiapo ................. 22,816 44,096 San Miguel ....... 25,200 23,128 lntramuros ......... 22.000 6,667 Sta. Mesa ........... 44.602 11,000 San Juan ........... 2,500 P733.062 P873.177 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

40

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